Odetics Raising $10 Million in Stock Sales

Anaheim-based Odetics Inc. said Monday it is raising about $10 million through private stock sales.

The communications equipment supplier already has sold $8 million worth of the stock to “a small group of accredited investors” and plans to raise $2 million from eight of the company’s directors and officers.

The private placement involves a total of 1.5 million shares priced at $6.625 per share and is being managed by Cruttenden Roth Inc. of Irvine.